Chinese technology companies that have rapidly expanded across the Middle East are facing disruptions to their operations in light of the Iran conflict, reports the South China Morning Post. Baidu, WeRide and Meituan are among companies halting operations or instituting remote work, as some Chinese nationals seek to escape the region. Baidu, which began operating its Apollo robotaxi […]
Category: Politics & Society
Refiners in China, the world’s top oil importer, have enough supply on hand to weather near-term disruption from the Iran conflict, reports Reuters citing traders. The supply is bolstered by recent record purchases of Iranian and Russian crude and robust government stockpiling. China has around 900 million barrels in strategic inventories, or 78 days’ worth of imports, according to […]
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Uncertain times
A large number of Chinese companies are facing disruption as a result of the Iran war, with many closing down operations, evacuating their staff and reconsidering how much can be done remotely as opposed to having people on the ground. The Morning Post said that WeRide, Meituan and Baidu were among the companies halting operations […]
Hong Kong stocks retreated by the most in nearly a year on Monday alongside risk assets in Asia, while oil and gold surged after the US strikes on Iran, reports the South China Morning Post. This comes as surging geopolitical risks sparked a risk-off mode among investors. The Hang Seng Index closed 2.12% down at 26,067.27. At […]
Airline shares plunged on Monday, with Hong Kong’s Cathay Pacific down more than 5%, and Air China, China Southern Airlines, China Eastern Airlines fell at least 4% after the US and Israel launched weekend strikes on Iran, disrupting travel and sending oil prices surging, reports Reuters. Global air travel remained in turmoil on Monday as war […]